Trent gives good advice, and its nice to know there are funding alternatives to the banks here in AU, I laugh at them often, they restrict lending practices so badly no one can do anything and all of a sudden they're not writing any business, but blame developers for the woes of the property market.. Hmmm..

Anyway. A good lawyer and accountant are VITAL in this scenario, as the structures and methods used to get developments going can, depending on the size and dollars involved, become very complex. You need someone who's got experience in it already. If geographic location doesn't matter and you can transfer data electronically, give Trent's accountant a try, I know some very good lawyers in in Brisbane also.

Other consultants I think (personally) are very important:
1 – Town planner
2 – Surveyor
3 – Agent
4 – Builder/Designer/Architect
5 – Engineer (civil infrastructure)
6 – Broker/Funder/Banker/Investor

If you have those plus your lawyer and accountant in place, you'll have the foundations you need.

Best of luck!

Matt

Hi IDH
I also have a builder who could quote you, again in the Brisbane area. If not, let me know which area and I can hopefully refer you to one in our network.

Welcome to the wonderful world of 'developing' and why developers won't pay big money up front until there's a DA through and they know they can do what they want with a site. That's the risk involved that many vendors don't grasp. Councils can be fickle, greedy, cumbersome and in some cases utterly irrational. Some can also be great and a pleasure to deal with. You just don't know.

Developers etc will use options or development agreements, with subject to DA clauses. In your case, you could offer to settle subject to approval of easement etc. All comes down to the deal and conditions and how you negotiate with the vendor, and your lawyers agreement writing skills.

It'll all come down to the town planner you deal with, and what the surveyor/DA people you choose can design for an easement/access road. Without seeing a cadastral map or RPData map of it I'm only guessing, but if its a wide block (and at 2k m/2 I'd think it might be), you should have ample room to put something down one side, depending on the placement of existing house(s) etc.

Biggest cost would be road work/civil/gutters etc plus extending sewer and power back there I would have thought..

Give what ever council it is a call, tell them what you're considering, see what the feedback is. It should always be the first step in my humble opinion..especially before committing to buy/pay/go to contract etc.

Talk to any American who was in property prior GFC and they'll tell stories of lenders doing exactly the same thing, and in their opinion, these types of products were what contributed to the downfall, amongst other things, but in some states, like Arizona for example, there are still repossessions going on of people's houses because they borrowed more than the value of the property which then dropped…

On one hand I think great, the pendulum swing is coming back towards more balanced lending practices, on another I think its gone past the sensible point again..banks have gone from causing the biggest storm since the early 1900's (rant opinion of mine) to complaining that whole sale borrowing is costing them so much more while posting 20% increase in profits (Hmmm), to now realising overly stringent lending practices, especially where development is concerned, has slowed building and development to a crawl, Oooops! Hang on, if we're not lending we're not making money! Bugger! Better start throwing money out there again to recoup! After all, all we need to create more money is the promise to pay it back! Woo hoo!  

'course its only my opinion …

Super Profits Tax for the Banks I say!

What you need is email or information from real estate agents saying "yes there is demand in the area for this type of product" whether that's land, houses or whatever. You then need to speak to Council about what can and can't be done with the land. I've spoken to so many vendors out there who say "oh yes this can be done" but Council says "no it can't".

It'll be attractive if:
* there's demand in the area greater than supply. If it's not surrounded already by development, or has it going on nearby, then it may not be so attractive.
* once there's a DA attached to the land. Without that, its just land.
* the agreement you make (if you make it) has enough time for people to pre-sell land (banks won't fund unless you do these days so you need to expect to be waiting 18-24 months under some form of development agreement or option)
* you'll also need to look at surrounding infrastructure, roads, schools, transport, so on and so on, if its in the middle of nowhere, not so attractive as it'll cost millions to get services to the land.

Don't have the expectation for big money up front. Won't happen. This is a long process dependent on council approvals, demand, funding, pre sales, so on and so on. I'm quite happy to look at it and pass it on to people I know once you have the above information.

Hope that helps..

yeah I don't know that I'd be giving away considerable splits of the profits if I'm taking on all the risk of the DA/legals/marketing etc. I'd pay the finders fee and a success fee if the option was negotiated for the terms I set out, on settlement or onsale of the option, but I don't know if I or anyone I deal with would enter into much more than that.

Freeenterprise – good question about Buyers Agents, I'm curious to know how you think this would work given someone's desire to get an option over something, when this isn't a formal contract, and there is no commission payable until (or if) the property itself settles? I know when I did go through massland it was a very 'anti' agent although occassionally you 'did find a good one'…

I would think using a Buyers Agent would have to involve some form of a JV or agreement about payment on successful 'acquisition' or signing of an option or on settlement/onsale of the option. I'd be open to it if the structure was workable.

Cheers
Matt

I'm confused as to how ASIC would know about property holdings myself.. not to say they don't, but I've not ever heard of them being involved in any way shape form or retaining that kind of information. They regulate mortgage brokers, financial advisors, publicly listed companies and such, APRA regulate deposit taking institutions and now credit providers etc, so I'm curious how, why, or indeed if, ASIC would be actually retaining that kind of information. I know they allegedly investigate groups providing financial advice (see Jamie McIntyre's early days and problems with this), and they probably 'should' be regulating seminar spruikers also (although don't)..quite curious indeed to actually see 'said' reports of said 'squeaky clean' person. Proof is in the documentation as they say. My former profession always drilled into us, verify your source, if its B2 then you're good to go.

As for what I 'think I know'..therein lies the issue. I 'think' I know it because as yet, I've not seen any proof of claims made, anywhere, by anyone, at any time, so until its proven, I can only 'think' it…mind you I have recently hit the point of not giving a f*** about them or this any more. If people still want to give their money away I know a number of great charities that will benefit from your willingness to give tens of thousands of dollars away to provide food, blankets, medical supplies, not a lease on a porsche and overseas holidays.

What I know, is how many people have contacted me offline from here and somehow directly from their courses, with experiences about Conclave, the seminars etc and could I help them get their money back.. I've declined each time for the record. What I know is the responses I got when I went and spoke to the people who were 'friends' and 'associates' and so on. What I know is I don't like being abused and threatened as I was if I ever rang them again asking about said spruiker.

Thankfully, if i 'investigate my own relationship, I can peacefully and happily say, there is none, never will be, and unless or until such time as I have documentary, legally binding, verifiable evidence to prove all claims made, that will remain the case.

I stand by my original, and ongoing comments. Do the due dilligence. Ask for proof of all claims made. If they or anyone for that matter cant, or wont, prove it, ask yourself why. iF you still part with $15-30K, then what can I tell you. Suffer in your jocks.

Peace.

Paul Davis is alright, he knows his material, but he's not the only good property lawyer in SE Qld believe me, and you should investigate the relationship between Mark and him a lot more for information purposes only.

As for RPData.. they're onselling at an inflated price. Simple. They pay a monthly access fee as a company for a certain number of logins, they then onsell them at a considerable markup. Individuals get charged a much higher rate.

Agree on mindset, especially when it comes to ethical business dealings and integrity. Call me old fashioned..